October 30, 2020

Thai Enquirer Summary

Political News

 In one of the most strange statements made in years, former prime minister , came out to urge embattled Prime Minister Gen Prayut Chan-o-cha to reconsider his stance and protesters’ demand for him to resign.

 The ex-premier, who was put in his position after the 1992 massacre of student lead protest against then dictator/Prime Minister Suchinda Kraprayoon, also voiced his support for charter amendments that takes into account of public participation and the scrapping of the Senate’s powers to vote for prime minister.

 During a seminar titled “From analogue to digital era how to reduce communication gap in a sincere and graceful manner”, the ex-prime minister said unlike the past, new-generation activists with the use of digital platforms and digital technologies to drive their anti-government protests while Gen Prayut still speaks in an “analogue” mode.

 Anand pointed that the key problem between Gen Prayut and the youths lies in differences in perceptive communication between generations.

 However, he said the degree of severity of youth-led demonstrations cannot be compared with the past of October 14, 1973 or October 6, 1976. He also pointed that political problems could be dated back 7 years ago when the National Council for Peace and Order (NCPO)-sponsored constitution was drafted without taking into account people’s opinions.

 Anand advised involved parties to look into problems in the current charter, especially the problematic clause that gave the 250 appointed senators’ power to select the country’s prime minister.

 Anand said this clause needs to be abolished. He perceived that this particular clause is the key issue that caused new-generation to stage anti- government demonstrations.

 As for protesters’ demand for Gen Prayut to resign, Anand urged Gen Prayut to listen to the youngsters who perceived him as the cause of the ongoing conflict but said whether Gen Prayut himself owns the right to decide on students’ demand for him to step down.

 Anti-establishment activists yesterday announced to ramp up protests in Khon Kaen if Prime Minister Gen Prayut Chan-o-cha refused to step down.

 At Khon Kaen University, pro-democracy activist Jatupat “Pai Dao Din” Boonpattarasaksa, lead of the Dao Din group, told students to be prepared to take to the street. He warned that protesters will be ready to spill onto Mitraphab Road if Gen Prayut refused to resign. Jatupat said he planned to adopt the Ratchaprasong model in which protesters sealed off Ratchaprasong intersection.

 Meanwhile, former graduates of belonging to different groups of alumni invited all former Thammasat graduates to meet in front of the main auditorium of Thammasat University from 15.00 hrs on October 30-31 to view His Majesty the King’s audience during his visit to the university. The

invitation contrasts to the “Graduates of the People” group which announced a “Big Surprise” campaign on the same day as Thammasat University’s graduation day tomorrow.

 Facebook page of the Network of People defending the Monarchy invited the public to keep a close watch on the anti-monarchy movement’s offensive actions at Thammasat University’s Tha Prachan Campus from October 30-31.

 Meanwhile anti-government rallies were held at 3 locations in yesterday including a street fashion show that expressed sarcasm and satire on a member of the royal institution.

 A red carpet was unrolled on the street to serve as a fashion runway for men and women to vamp in front of an amused crowd, making fun of the family’s gestures and appearance.

 The 1st group of protesters rallied on the Pathumwan Intersection Skywalk, some protesters mocked the government’s alleged harassment of the media by sitting on chairs placed along the skywalk with their mouths shut and their hands behind their backs in a symbolic demonstration of the alleged harassment. Other activities were also held to showcase alleged state violence to mark the 13th day since the forceful dispersal of protesters at Pathumwan intersection by the police who deployed water cannons to spray water laced with chemical irritants at the protesters.

 The 2nd group was at Wat Khaek, the Hindu temple on Silom Road, protesters placed paintings on the road portraying the struggle for democracy.

 This venue was also the venue for the fashion show walkway on the street.

 A 3rd group of protesters rallied on the outbound lane of the Bang Na-Trat highway, opposite Media Company’s premises, to protest against, what they allege is, biased reportage of their protests.

 Meanwhile, there are reports that Deputy Prime Minister Gen has instructed Minister of Digital Economy and Society (DES) Buddhipongse Punnakanta and the ministry’s top officials to speed up law suits against social media platforms that stir up conflict and generate fake news.

 Gen Prawit is said to ask the Royal Thai Police Office and the National Broadcasting and Telecommunications Commission (NBTC) to pursue 1-2 cases against overseas online platforms that violated the Computer Crimes Act in order to set a precedent for others and show that Thai laws are effective.

 On a separate issue, Gen Prawit Wongsuwon yesterday rejected a call by Sondhi Limthongkul, former co-leader of the defunct People’s Alliance for Democracy (PAD), for a coup to pave the way for the establishment of a national unity government to defuse the political conflict.

 On the superstitious side, Chonthus Ruethaipong, President of Astrology Association of , came out to warn Gen Prayut not to be complacent as the political situation will spiral out of control, causing divisiveness to widen, sending the country to reach a breaking point.

 He told Gen Prayut to be wary of casualties and opportunists while he must be prepared to fight several battles inside and outside the country that may cause him to lose his prime ministerial seat.

 The famed fortune-teller said Gen Prayut is set to face a rough path in the final quarter of this year, posing a challenging time for his administration. There will be severe problems that required immediate fixing.

 Chonthus advised Gen Prayut to try to sustain his ill-plight for the remainder of this year and adjust his attitude to lead the country back to normality in 2021. Chonthus also predicted that hardships facing Thais would worsening next year.

 Thanathorn Juangroongruangkit, leader of the Progressive Movement, and 4 others from his movement and the , were yesterday released without bail shortly after being indicted on charges relating to a flash protest rally in central Bangkok in December last year.

 Those sent for trial are Mr Thanathorn; Piyabutr Saengkanokkul, secretary- general of the group; Pannika Wanich, the group's spokeswoman; Move Forward Party leader Pita Limjaroenrat; and Pairattachote Chantarakajon, a former election candidate for Mr Thanathorn's disbanded .

 All were present in court to hear the indictment related to their rally on the elevated BTS walkway at the Pathumwan intersection on December 14, 2019.

 Meanwhile Germany has come out to say that HM the King Maha has not breached any of the rules in the country, Reuters reported.

 Meanwhile, HM the King has made frequent public appearances in recent days. Images of King Maha Vajiralongkorn have been shared on social media following his conversations with local people in Ubon Ratchathani who sought his audience when attending the royal kathin (monk’s robe-giving) ceremony in Wat Nong Pah Pong in Warin Chamrap district.

 A video clip of HM the King having a chat with locals who showed their support for the King was posted the video clip on social media. Locals were heard saying, “King Fight Fight!” and the King replied, “We will walk together with love and close ties for the nation”.

Economic News

 Today the decision is set to be made for the reduction in the number of days for quarantine in Thailand, a move that could help raise the tourism sector which has been reeling from the impact of the outbreak of the coronavirus (Covid-19).

 The National Communicable Diseases Committee (NCDC) has agreed, in principle, to reduce the 14-day mandatory quarantine period, for people arriving from abroad and people suspected of carrying coronavirus, to 10 days. It also agreed to tighten up safety measures at quarantine facilities and increase tracing of those who complete their quarantine period.

 Public Health Minister Anutin Charnvirakul, who chaired the meeting of the committee , said that their decision to reduce the mandatory quarantine period will be submitted to the Centre for COVID-19 Situation Administration (CCSA) for consideration.

 He noted that Thailand has the capacity, including medicines, laboratories, medical personnel and other resources, to contain the spread of COVID-19. More importantly, there is not a single severe case currently in hospital and the country has a coronavirus fatality rate of less than 2%, with most of the new cases being imported.

 He said that the committee agreed to the 4-day reduction in the quarantine period and, instead, placed emphasis on safety at quarantine facilities and the tracing of people who were quarantined.

 The Ministry of Finance yesterday revised up its economic growth forecast for this year to a contraction of 7.7 per cent instead of the previous 8.5 per cent, citing signs of improvement in economic indicators for September released by the Fiscal Policy Office (FPO).

 The economy is recovering in the second half of the year as Thailand’s major trading partners start to rebound from the COVID-19 crisis, while government spending shores up the local economy, said FPO advisor Pornchai Theeravej.

 The ministry’s optimism is in line with the Bank of Thailand (BoT)’s prediction, which recently revised its forecast for the economy this year from -8.1 per cent to -7.8 per cent, Pornchai said.

 This year, Thai exports are expected to fall by 7.8 per cent, better than the previous forecast of an 11 per cent drop. Private consumption and private investment are expected to contract by 3 per cent and 9.8 per cent respectively. Meanwhile, government consumption and investment are expected to expand 4 per cent and 10.5 per cent.

 Charoen Pokphand Group (CP)’s mega-deal to acquire 86.9% of the Thai business of Tesco and 100% of the UK retailer’s Malaysian business has yet to be approved after the Office of Trade Competition Commission (OTCC)’s meeting yesterday resolved to extend its consideration on the acquisition for another 15 days.

 The OTCC then has yet to rule if it could lead to a monopoly or undue market dominance against consumer interest under the 2017 Trade Competition Act.

 The commission is set for another meeting on November 2 to consider documents regarding the deal, Sakon Varunyuwatana, chairman of the OTCC, said, adding that documents have a great deal of details and the commission needs more time to consider such details.

 A source with the OTCC expects the OTCC may rule on the deal on November 2 with a majority of commission members to rule in favour of the deal with conditions. The outcome of disapproval can only happen if this deal is found to lead to market dominance, the source said, adding that operators of convenience stores and hypermarkets are already competing with multiple competitors; therefore, this deal should not result in a market monopoly.

 Some 5,000 employees of Thai Airways International (THAI) have offered to take early retirement from the financially ailing flag carrier.

 Out of a total of about 19,000 THAI employees, about 5,000 have recently offered to take early retirement from the upcoming December 1, confirmed acting THAI President Chansin Treenuchakorn who said other employees, who may have decided to stay with the loss-ridden airline firm, can change their mind at a later date and follow suit of those who have offered to take early retirement, the acting THAI president said.

 Besides, they may instead choose to take leave with pay amounting to 20 percent of their current salary for a period of 6consecutive months, beginning on the upcoming November 1, Chansin said.

 Siam Cement Group (SCG) is pleased with its 3rd-quarter performance results following a report of a net profit of 9.741 billion baht for the quarter, up 4 per cent from the previous quarter and a 57 per cent increase year-on-year thanks to outstanding business performance in the value-added product segment.

 In the first 9 months of this year (from January to September), SCG earned revenue worth 303 billion baht, a 9 per cent decrease year-on-year, due mainly to decreased sales prices of chemical products as a result of a decrease in oil prices, said SCG president and chief executive Roongrote Rangsiyopash.

 SCG set aside a 60-billion-baht budget this year on chemicals and packaging businesses as well as for the construction of new plants.

 The National Anti-Corruption Commission (NACC) has resolved to set up a panel to investigate the 112-billion-baht rubber gloves procurement case that involved a former acting director of the Public Warehouse Organisation (PWO).

 The NACC called an urgent meeting to consider the alleged corruption in the rubber glove purchase and agreed to launch an investigation against PWO acting

director Pol Col Roongroj Phuthiyawat and his accomplices after the commission found a lot of irregularities in their transactions.

 The meeting also agreed to freeze two billion baht that the PWO had transferred to a bank account of Guardian Gloves Co, Ltd -- a private company that signed the rubber gloves procurement contract with PWO.

 The NACC has the power to temporarily seize the money but the accused can file a petition with the NACC to receive the assets for use with or without a guarantee.

 Meanwhile, Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a stable outlook as Thailand’s ratings are supported by strong public and external finances which provided buffers to the economic shock and market volatility asscoaued with the virus outbreak, said Patricia Mongkhonvanit, Director-General of the Public Debt Management Office (PDMO), said.

 Fitch said it will keep a close watch on the rise in political uncertainty that underscores political risks over the medium term and the general government debt-to-GDP ratio which may affect the government’s efficiency in implementing policies and economic growth in the medium term.

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General News

 Thailand logged 4 new COVID-19 cases yesterday, raising the total to 3,763.

 There were 2 cases from Kuwait and one each from Japan and the United Arab Emirates.

 One case is a Kuwaiti woman, 67, who arrived via Qatar on October 25 to seek treatment for another illness. Another is a Kuwaiti student, 19, who arrived via Qatar on October 24. Both were asymptomatic but tested positive on arrival.

 The case from Japan is a Thai student, aged 24, who had a high fever on October 6. She arrived on October 21 and tested positive on October 24.

 The case from the UAE is a Thai masseuse, 40, who returned on October 23 on the same flight as 3 previously confirmed cases. She tested positive on October 26.

 Of the total 3,763 cases, 3,570 had recovered, including nine discharged over the past 24 hours, and 134 others were at hospitals, the CCSA said. The death toll remained unchanged at 59.

 Globally the number of virus cases are spiking again in countries such as

 United States of America which has seen a record number of cases yesterday  India’s cases have halved but still at around 50,000 new cases each day  France, Italy, Brazil, Spain and United Kingdom are all having in excess of 20,000 cases each day.

 On social issue

 Self-professed gambler Apirak "Sia Po" Chat-anon was detained after showing up at a police station in Bangkok to be questioned about a shootout on Tuesday that resulted in two men being wounded.

 Mr Apirak was later released without condition by the Thon Buri Criminal Court after posting 350,000 baht bail.

 The 28-year-old and his brother, Khemmathat Chat-anon, 25, were accompanied by Santhana Prayoonrat, a former deputy superintendent of Special Branch Police, when they reported to Pol Capt Somkiart Kitprapanan, deputy investigation chief at Phasi Charoen station, about 03:00 hrs. yesterday.

Political News Headlines in Thai Media

 The vast majority on both sides of the political divide bore witness to the same footage of the violent crackdown at Pathumwan intersection earlier in October; the photos of a five-year-old injured by the chemical-infused water sprayed at the demonstrators, the videos of police fully kitted in riot gear advancing at a flimsy line of umbrellas.

o Link- https://www.thaienquirer.com/20200/opinion-the-people-most-embarrassed- by-this-government-are-its-supporters-and-all-for-the-wrong-reasons/

 I once tried to do something radical in Thai. Let me spoil the ending–I failed completely.

o Link- https://www.thaienquirer.com/20196/a-movement-without-pronouns-and- leaders-is-challenging-thailand-all-the-way-to-the-top/

 If you want to know what is really happening in Thailand right now then here it is, General Prayut Chan-ocha is tearing this country apart to hold onto his power.

o Link- https://www.thaienquirer.com/20217/opinion-government-propaganda-is- creating-rifts-in-society/

 Germany does not believe that Thailand's king has so far breached its ban on conducting politics while staying there, a parliamentary source said on Wednesday, after lawmakers were briefed by the government.

o Link- https://www.bangkokpost.com/thailand/politics/2010595/germany-does-not- believe-king-has-breached-state-business-ban

 His Majesty the King of Thailand told his subjects, during a visit to a temple in the northeastern province of Ubon Ratchathani yesterday (Wednesday), that Thai people must be close together in love for the country.

o Link- https://www.thaipbsworld.com/thailands-king-asks-people-in-ubon- ratchathani-to-join-in-love-for-the-country/

 Pro-democracy demonstrators rallied at Interlink Tower in Bangkok’s Bang Na district on Thursday to protest against Nation TV, which they accuse of being a mouthpiece for government propaganda.

o Link- https://www.nationthailand.com/news/30397001?utm_source=category&utm_mediu m=internal_referral

 Thai students are highly alert to social issues compared to their peers overseas, according to the findings of an international report released last week.

o Link- https://www.nationthailand.com/news/30396998?utm_source=category&utm_mediu m=internal_referral

 The Office of the Basic Education Commission (OBEC) has been hit with public criticism after it accused a teacher of inciting conflict by posting "political" messages on Facebook.

o Link- https://www.nationthailand.com/news/30396984?utm_source=category&utm_mediu m=internal_referral

 The Student Government of (SGCU) officially apologised to revolutionary Chit Phumisak, who was pulled off the stage by student extremists 67 years ago for sharing avantgarde ideas on education.

o Link- https://www.nationthailand.com/news/30396982?utm_source=category&utm_mediu m=internal_referral

 The Public Health Ministry has set up a panel to assess the 101 alternative state quarantine centres (ASQs) and see if allowing quarantined people to use hotel facilities will put others at risk.

o Link- https://www.nationthailand.com/news/30396981?utm_source=category&utm_mediu m=internal_referral

 The Pathumwan Municipal Court on Thursday accepted for trial the prosecutors' indictment of Thanathorn Juangroongruangkit and four others from his Progressive Movement Group and the Move Forward Party on charges relating to a flash protest rally in Pathumwan district in December last year.

o Link- https://www.bangkokpost.com/thailand/politics/2010519/thanathorns-group- for-trial-over-flash-rally

 Deputy Prime Minister Prawit Wongsuwon has instructed the Digital Economy and Society (DES) Ministry to strictly monitor websites and social media platforms that contain illicit content, noting those involved should be prosecuted and be made examples for the public.

o Link- https://www.bangkokpost.com/thailand/general/2010635/ministry-told-to- monitor-social-media

Economic News Headlines in Thai Media

 Meet Akarawin “Jimmy” Taechaubol, a young, prominent Thai businessman, socialite, millionaire heir to the JC Kevin Development real estate empire, and police captain working as a sub-inspector at the strategic division of the Narcotics Suppression Bureau.

o Link- https://www.thaienquirer.com/20173/opinion-a-rich-thai-socialite-just-killed-a- pedestrian-in-a-hit-and-run-the-legal-double-standards-are-shocking/

 The National Anti-Corruption Commission (NACC) has set up a committee to look into allegations of corruption in a Bt112-billion deal for surgical gloves between the Public Warehouse Organisation (PWO) and a private company.

o Link- https://www.nationthailand.com/news/30396986?utm_source=category&utm_mediu m=internal_referral

 Bangkok Airways announced on Thursday that it will start flying to Krabi daily from Sunday onwards, and that all measures to contain the spread of Covid-19 will be strictly observed.

o Link- https://www.nationthailand.com/news/30396988?utm_source=category&utm_mediu m=internal_referral

 Immigration offices will be open to accept and process visa renewal requests tomorrow, the last day of the visa amnesty.

o Link- https://www.bangkokpost.com/thailand/general/2010659/visa-offices-to-open- tomorrow

 Thailand's initial public offerings (IPO) remain active despite the pandemic and the country's poor economy.

o Link- https://www.bangkokpost.com/business/2010835/ipos-active-despite-outbreak

 The persistent pandemic crisis at home and abroad is a decisive factor in whether the long-awaited land and building tax, which is the Fiscal Policy Office's (FPO) brainchild of 25 years, will produce the desired impact or not.

o Link- https://www.bangkokpost.com/business/2011051/land-tax-teeters

 All inbound tourists have to complete quarantine at alternative state quarantine (ASQ) facilities in Bangkok in the first stage of reopening, with direct flights to provinces still postponed, says the Tourism Authority of Thailand (TAT).

o Link- https://www.bangkokpost.com/business/2010731/tat-says-all-arrivals-must- stay-at-asq-facilities-in-bangkok

 PTT Exploration and Production Plc (PTTEP) has managed to resume its business growth in the third quarter, following a 38% drop in revenue and 56% plunge in net profit in the second quarter.

o Link- https://www.bangkokpost.com/business/2010779/pttep-resumes-growth-in- third-quarter

 Nation Broadcasting Corporation (NBC) has gained shareholders’ approval for a new issue of 321.26 million ordinary shares to increase its registered capital by Bt170.27 million to fund its business expansion.

o Link- https://www.nationthailand.com/business/30397002?utm_source=category&utm_me dium=internal_referral

Issues to be watched out for

 October, 2020 – The Thailand Grand Prix was rescheduled after being postponed due to the coronavirus outbreak.

 October 23-December 31, 2020 – 14 million welfare cardholders will receive an extra monthly discount of 500 baht on their shopping under the government’s economic stimulus package.

 October 28-November 1, 2020 – Fast Auto Show Thailand at Bitec, Bangna.

 November 2-3, 2020 – A mobile cabinet meeting is scheduled to take place in Surat Thani and Phuket.

 November 1, 2020 – The second batch of 120 foreign tourists issued with the Special Tourist Visa (STV) scheme from Scandinavian and Schengen countries on a Thai Airways International (THAI) flight and land at Suvarnabhumi Airport.

 November 1, 2020 – The next parliamentary session will begin.

 December 2020 – The Federation of Thai Industries (FTI)’s “Faster Payment” scheme to increase liquidity for small and medium-sized enterprises (SMEs) during the pandemic is set to end.  December 20, 2020 – Tentative date for elections of Provincial Administrative Organizations (PAOs) in 76 provinces.

 February 28, 2021 – Tentative date for municipality elections and the election of tambon administrative organizations (TAOs).

 April, 2021 – The central bank plans to officially implement the new rule on the rate of penalty imposed on loan defaulters in a bid to ease borrowers’ burdens and motivate them to repay their debts. Key Data

SET Index 1,201.64 -6.30

 Link - https://www.set.or.th/en/company/ipo/upcoming_ipo_set.html

Global Commodities

 Metal -Link http://www.bloomberg.com/markets/commodities/futures/metals/

 Energy -Link - http://www.bloomberg.com/energy/

 Baltic Dry Index (BDI)-Link - http://www.bloomberg.com/quote/BDIY:IND

Global Equity Market’s Movements

 Link - http://www.bloomberg.com/markets/stocks/world-indexes/asia-pacific/

Asian Equity Markets Movement

 Link - http://www.bloomberg.com/markets/stocks/world-indexes/

Information on October 29, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

EP 100,000 3.96 Purchase NEWS 6,582,228,572 0.01 Purchase STARK 2,250,000,000 1.4 Sale THG 10,800 17.9 Purchase THG 1,000 17.9 Purchase THG 78,000 18 Purchase THG 71,000 18.1 Purchase UTP 60,000 13.3 Purchase

XD, XE or XM or other notifications

For list of Companies that have dividend payment and AGM meeting schedules click on http://www.set.or.th/set/calendarofevents.do

Trading Breakdown on the Stock Exchange of Thailand

Daily as of 29 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value %

Local Institutions 4,604.47 9.06 4,794.18 9.43 -189.71 - Proprietary 6,766.48 13.31 6,793.52 13.36 -27.05 - Trading Foreign Investors 17,807.95 35.03 18,978.72 37.33 -1,170.77 - Local Individuals 21,659.87 42.61 20,272.35 39.88 1,387.53 - Monthly Cumulative between 1 - 29 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 87,414.58 8.93 98,972.00 10.11 -11,557.42 - Proprietary 127,161.29 12.99 124,299.01 12.69 2,862.28 - Trading Foreign Investors 348,413.87 35.58 366,818.68 37.46 -18,404.81 - Local Individuals 416,129.62 42.5 389,029.67 39.73 27,099.95 - Yearly Cumulative since 1 Jan - 29 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 1,355,211.72 10.77 1,298,596.80 10.32 56,614.92 - Proprietary 1,332,294.80 10.59 1,327,121.32 10.55 5,173.47 - Trading Foreign Investors 4,427,520.06 35.19 4,723,598.86 37.55 - - 296,078.80 Local Individuals 5,465,202.68 43.44 5,230,912.27 41.58 234,290.41 -

Total Trading Value 50,838.77 Million Baht

Background Information –

The strength of each party in the Thai Parliament as of May 8, 2019 as per the report by the Election Commission of Thailand. Elections took place on March 24, 2019

 https://www.ect.go.th/ect_th/news_all.php?cid=24

 List of MPs - https://www.ect.go.th/ect_th/download/article/article_20190508184334.pdf

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